The claims of 1hr to collect rent, produce receipts, and deposit checks also seems like a reasonable claim if done physically and not electronically.

Is it as simple as driving around and figuring it out?  

If they are adjusting the amount they can lend because the margins are too thin or telling you the deal metrics are not checking out it is likely due to the expected earnings not being sufficient. 

Thank you for the great information. 

If you are just starting out, this is for you:When you buy an investment property, it is treated differently than a house you are going to live in. 

Mom’s estate plan should probably address this separately from you. 

What books would you recommend for someone who’s just starting out?

In this manual (which I assume could be modified to provide to tenants) I include all the financing information (which you would not include for tenants) bank accounts, mortgage accounts, payment information, and mortgage payoff), a list of the contractors, what each contractor does, a list of upcoming planned or necessary repairs, and a copy of all leases associated with the property.

These cash outs got me 14 houses with no out of pocket $.

Check out Cincinnatireia they are a huge REI group in the SW area.